Oil minister Dharmendra Pradhan today said that the current spike in petrol and diesel price is 'temporary' and related to the impact of Hurricane Harvey in the US."The prices have gone up because some of the refining capacity has been shut down (in the US). It is temporary," Pradhan
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The pace of growth in petroleum consumption slowed this year, but private retailers are getting ready to open more and more outlets, Fitch Ratings said.Consumption of petroleum products, such as diesel, petrol, LPG and kerosene, has been increasing at a rate of about 5% in India over the last
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Tata Power said it generated more four times as much power from renewable sources like solar and wind in the financial year ended March, compared to the year before.This was achieved partly due to an acquisition.During the year, its renewable arm Tata Power Renewable Energy Limited completed the
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Tata Power announced its plan to set up electric vehicle charging stations across Mumbai, and has set up the first one at its compound in Vikhroli."These chargers would facilitate electric car users to charge their cars (Battery Electric Vehicles such as the Mahindra e2O, Nissan Leaf, etc) at any time
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Even as India more or less sticks to the target on adding large solar farms under its ambitious Solar Mission project, the other leg of the plan -- rooftop solar -- remains woefully behind target.Under the solar mission, India is supposed to have put in 5,000 megawatt of solar plants
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India added only 827 megawatt of solar power generation capacity in the first three months of the current financial year, indicating a slow start to the yearly program.The addition of the first three months represents only 8.27% of the 10,000 megawatt that it is supposed to come online this year.According
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Hindustan Petroleum Corp Ltd said it had appointed banking intermediaries for organizing investor meetings in the run up to raising Rs 6,000 cr ($930 mln) by selling foreign-currency denominated bonds.The bonds will be non-convertible, and will be issued if the meetings discover favorable market conditions and demand, the state-owned oil
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Bharat Heavy Electricals Limited said it got an order from Gujarat Alkalies and Chemical Limited for setting up a 15 MW Solar Photovoltaic power plant in Gujarat on Engineering, Procurement and Construction (EPC) basis.This takes the total solar power generation capacity being constructed by the company to 180 MW, including
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Jindal Steel and Power said it secured coal linkages of 511,000 tonnes per year in a recently concluded auction for the use of its captive power plants."The coal linkages, secured for a 5-year duration, will provide steady supply of fuel to captive power plants run by the company for
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Reliance Industries said it commissioned its third and last crystallization train at its paraxylene complex at Jamnagar, making the company the biggest manufacturer of the key ingredient used in plastic production.Paraxylene is used to make intermediate chemicals that are then used to manufacture polyethylene terephthalate or PET. PET
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The central government has okayed the listing of India's premier renewable energy agency, IREDA, via an initial public offer.The move will help the non-banking finance company "increase its equity base which will help them raise more debt resources for funding renewable energy projects," the government said.IREDA supports the non-traditional energy
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Laurel Energetics, one of the six persons who are making an open offer for the shares of RattanIndia Infrastructure Ltd said the acquirers have submitted a bank guarantee of Rs 111.41 cr rupees for conducting the open offer.The bank guarantee was made a precondition for the open offer to
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Indraprastha Gas Limited, the supplier of Compressed Natural Gas and Piped Natural Gas in the National Capital Territory of Delhi, Noida, Greater Noida & Ghaziabad today announced its Q4 results.The company’s net profit for the three months ended March increased from Rs. 108.96 crores in corresponding period last year to
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India today announced among the biggest civil nuclear programs anywhere in the world, saying it will set up 7,700 MW of indigenously developed nuclear power plans.It is the first time that the country is creating so much capacity using local technology. Nearly all Indian nuclear plants are based on imported
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Cairn India said its gross production of oil and gas across all assets rose 2% to 184,585 barrels of oil equivalent per day (boepd) in the Jan-March quarter compared to the preceding quarter, but declined 6.3% on year.Gross production from Rajasthan block averaged at 157,338 boepd for the quarter.With
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NTPC Ltd, India's largest power producer, has taken its total installed production capacity beyond the 51,000 MW mark with the addition of the 660 MW Solapur Super Thermal Power Project in Maharashtra.The total capacity of the NTPC Group has become 51410 MW, including 20 coal based, 7 gas based, 10
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India's ministry of power has set up a committee to examine concerns around the participation of Chinese companies in the country's fast-growing transmission sector.Since large Chinese firms typically have close ties to the Chinese government, concerns have been raised by both Indian companies as well as some security experts about
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Bharat Heavy Electricals Limited (BHEL) commissioned an 800 MW coal-based supercritical thermal unit at the Yeramarus Thermal Power Station located in Raichur district of Karnataka, the heavy equipment maker said.The plant is a joint venture between BHEL and Karnataka Power Corporation Limited and now has a capacity of 1600 MW.With this,
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The Department of Atomic Energy today said that India is the first country in the world where the waste produced by nuclear power plants is being used for civilian applications.Jitendra Singh, the minister of state overseeing the department, also allayed concerns about any possible leakage of radiation from spent fuel."There
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With the financial year drawing to a close, Madhya Pradesh, Gujarat & Mumbai have emerged as the states where people pay the highest taxes on petrol and diesel, while Tamil Nadu was the state with the highest increase in rates this year.In Madhya Pradesh, people pay an eye-watering 39.75% tax
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